Nicolai Foss and I have written a paper criticizing currently fashionable "stakeholder" approaches to the firm and the idea that managers should pursue "corporate social responsibility." BlackRock CEO Larry Fink, who manages $6 trillion in corporate assets, made a splash last month by...

The rise of Trump has dredged up old and bitter debates surrounding the concept of "America First," a position Trump frequently advocates almost unconsciously and using his own peculiar terms. Consider this tweet, from 2013, as an example of Trump expressing a populist,...

According to multiple sources, Attorney General Jeff Sessions is going to revoke the Obama-era Cole Memo, which directed federal law enforcement to respect states' marijuana legalization laws. Once revoked, federal prosecutors in states where marijuana has been legalized will...